July 7, 2020 / 3:49 PM / a month ago

Forex firm Travelex says debt holders to take control of company

July 7 (Reuters) - Travelex said on Tuesday its debt holders will take control of the company and inject 84 million pounds ($105.60 million) of fresh liquidity as part of a debt restructuring to help the currency service provider ride out the coronavirus crisis.

The company said it reached an agreement with at least 66.7% of its senior secured noteholders and all of revolving credit facility lenders on an 84% reduction of its existing financial debt. ($1 = 0.7954 pounds) (Reporting by Tanishaa Nadkar in Bengaluru; Editing by Shinjini Ganguli)

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